Tax calendar 2017-18
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Tax calendar 2017-18
  • Deadline for postal payments to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs.
  • Deadline for receipt of the contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Copies of 2015/16 P11d documents
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  • 2015/16 online self-assessment tax returns must be filed by 31 January 2017. Automatic £100 penalties will be issued for all failures to file on time, regardless of the amount of tax due.
  • Due date for balancing payment of 2015-16 income tax, capital gains tax and Class 4 NIC
  • Any balancing payment of tax for 2015/16 is due to be paid by 31 January 2017
  • In addition to the balancing payment for 2015/16, the first payment on account for 2016/17, comprising 50% of the outstanding income tax and Class 4 National Insurance liability for 2015/16, is also due to be paid on this date
  • This is also the deadline for filing any amendments to the 2014/15 self-assessment tax return
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs.
  • Fixed (£100) penalty if 2015-16 online SA return outstanding. Daily penalties (£10/day for 90 days) if 2015-16 paper SA return outstanding
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  • Deadline for submitting P46(Car) for employees who have received a new car or had one withdrawn during the quarter to 5 January 2017
  • In respect of income tax self-assessment tax returns for 2015/16, if any balancing payment remains outstanding at this date a 5% late payment penalty will be incurred. This is in addition to any interest which may be accruing.
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  • The end of the financial year on 31 March and the tax year on 5 April focuses the mind on the various ways in which tax liabilities can be minimised.
  • The financial and tax year end is an ideal opportunity to consider your tax position.
  • Last minute tax planning for the 2016/17 tax year. Ensure you use up all exemptions to which you are entitled
  • The 2017 Budget will be announced. Keep an eye out for tax changes.
  • Corporation tax rate to fall from 20% to 19%.
  • The government will permanently double (100%) small business rate relief (SBRR) from this date. There will be a raise in SBRR threshold in England to rateable values of up to £12,000 tapering to £15,000 from 1 April 2017.
  • Deadline for submitting P46(Car) for employees who have received a new car or had one withdrawn during the quarter to 5 March 2017.
  • Potential tax planning opportunities should be considered before the start of the next tax year on 6 April 2017.
  • First day of the new tax year
  • The personal allowance for all individuals increases from £11,000 to £11,500. In addition, the higher rate threshold will increase to £45,000.
  • A new restriction to landlords claiming tax relief on the mortgage interest they pay on their buy to let properties. The tax relief on interest is currently at an individual's marginal rate of tax but this will be reduced to the basic rate, being phased in over four years starting from 6 April 2017.
  • In his Budget 2016 speech, the Chancellor announced a new Lifetime ISA is being introduced as an alternative to traditional pension savings and current Help to Buy ISAs
  • The SDLT filing and payment window will reduce from 30 days to 14 days
  • A new nil rate band (NRB) of £100,000 (rising to £175,000 by 2020/21) will apply to transfers of a residence (which was at one point of time the individual's main residence) to direct descendants on death.
  • the tax relief for employer-arranged pensions advice will increase from £150 to £500.
  • the government will extend the pay-rolling of benefits, except living accommodation and beneficial loans, to include non-cash vouchers and credit tokens
  • Corporation tax self-assessment final payment is due for companies within the quarterly instalment regime (for 31 December 2016 year-end).
  • Deadline for quarterly postal payments to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs
  • Deadline for receipt of the contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Annual tax on enveloped dwellings (ATED) payments and returns due for year ended 31 March 2017
  • Under self-assessment a further penalty may be due in respect of paper tax returns for 2015/16 which are filed with HMRC after this date as they are six months late. Additional penalties may be due in respect of 2015/16 self-assessment
  • Tax returns which were due to be filed online on 31 January 2017, but have not yet been filed. Such returns will now be three months late.
  • Deadline for filing Employer Annual Returns **(RTI superseded)
  • Deadline for receipt of the contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Last date for giving a form P60 for 2015-16 to each relevant employee who was working for you on 5 April 2016.
  • Deadline for monthly electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for monthly electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs
  • Deadline for filing forms P9D, P11D, P11D(b), or substitutes for the tax year ending 5 April 2016
  • Last date for agreeing PAYE Settlement Agreements for 2015-16 (if any)
  • Deadline for second Self-Assessment payment on account for tax year ended 5 April 2016.
  • Deadline for postal payments to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs for the tax year ending 5 April 2017.
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • New minimum wage applies
  • Deadline for postal payments to reach HMRC Accounts Office for any outstanding non-electronic PAYE tax and Class 1 NICs for the tax year ending 5 April 2017.
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • Midnight deadline for paper submission of Self-Assessment tax returns for tax year ended 5 April 2016 to be received by HMRC
  • With Christmas nearly upon us, this is a quick reminder of the tax treatment of seasonal gifts and benefits to staff.
  • The Chancellor of the Exchequer will present his Autumn Statement
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • Deadline for receipt of the CIS contractor’s monthly return whether submitted on paper, electronically or in the case of a nil return over the telephone
  • Deadline for electronic payments to be cleared in HMRC’s bank account for any outstanding PAYE and Class 1 NICs for the tax year ending 5 April 2017
  • Deadline for online submission of Self Assessment tax returns for tax year ended 5 April 2016 for HMRC to collect tax through clients’ PAYE codes, where they owe less than £3,000
 
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